EDMC (Specifically Art Institute) is about to lay off hundreds. The goal is to cut costs... Some people's work loads will be tripled or more... others will be rehired at part time status. However those running the schools seem unaffected. See below (the names have been altered to protect the guilty and stupid).
Fraud Clown: will be receiving a $350,000 bonus in July for successfully spearheading the restructuring. He is also in the process of purchasing a second vacation home (his 4th home overall)
Elder Tuesday: is receiving a smaller bonus of only $180,000. Poor guy, how will he survive?
Big Hoser (ai Hollywood president): is currently enjoying a company car lease with monthly payments of $980 that are covered in full. He is also enjoying a mortgage match from EDMC on the 1.4 million dollar condo he purchased. Not bad for a guy who drove the LA campus into teach out.
Tiger "Couger" O'Tardley- current "tiger president" of Los Angeles campus. She collects two salaries. One from each job she holds with edmc (at total of $400,000). She is flown every other week from Minessota to Los Angeles. She only flies business class, stays at a hotel that costs sometimes over $700 a night and is chauffered to and from work. All of her food and expenses are also psid for when in LA. Her average trip to LA twice a month to do nothing costs the company $15,000. Not bad for someone with no advanced degree and no experience in education.
Thank god the restructure will get rid of all the peons so these folks can get some more perks...
So please share, what kind of financial scams are the higher ups doing that you are aware of?